Australia is a highly developed country and has one of the world’s top 15 economies. The country provides its nationals with a high quality of life, economic freedom, and the protection of civil liberties and political rights. Non-Australian citizens may apply for temporary residence under any one of the Business Innovation and Investment Program’s streams. Temporary residence visas allow non-Australian citizens to remain in the country for a specified duration for purposes such as tourism, study, and work, often providing a pathway to permanent residence eligibility.
AUSTRALIA
((Business Innovation and Investment Program))
VISA FREE DESTINATIONS:
189
PASSPORT INDEX RANK:
6th
OVERVIEW:
PROCEDURE:
Application processing time frames differ depending on the visa being applied for. The Department of Home Affairs uses a priority processing tier, whereby visa applications that yield the greatest economic benefit to the country (skilled visas) will be assessed quicker than those with less economic benefit (family visas).
MINIMUM CAPITAL REQUIREMENT:
Minimum contribution of AUD 2.5 million under the Investor Stream
MAIN APPLICANT REQUIREMENTS:
There are four main permanent residence programs:
- Family permanent residence
- Skilled permanent residence
- Special eligibility residence
- Humanitarian residence
The Business Innovation and Investment Program is part of the Skilled route, and includes the following:
- The Business Innovation Stream — Individuals must pass a points test, have a successful business career with a business turnover of at least AUD 750,000, and have net assets of AUD 1.25 million.
- The Investor Stream — Individuals must pass a points test and commit AUD 2.5 million into a complying Australian-managed investment fund for the duration of the provisional visa validity.
- The Significant Investor Stream — Individuals must commit at least AUD 5 million into a complying Australian-managed investment fund for the duration of the provisional visa validity.
- The Entrepreneur Stream — Individuals must receive endorsement by a state or territory government.
The above temporary visa streams offer a direct pathway to permanent residence after three years, subject to meeting certain residence and investment or business turnover requirements. The initial visa will be valid for five years.
PROCESSING TIME:
12 months
KEY BENEFITS:
- High standard of living
- Multicultural
- Political, social, and economic stability
- Objective, merits-based immigration system with predictable outcomes
- Compulsory 10% superannuation or pension payable by employer
